CHARLOTTE — Nearly 200 homeowners celebrated paying off their mortgages last month by burning their papers in a fire pit thanks to Habitat for Humanity.
The organization hosts the traditional event every two years.
For years, Habitat has been able to offer affordable mortgages priced below market rate to people living between 40% to 80% of the area’s median income.
That is how Habitat can keep mortgage payments low.
The average loan amount was nearly $65,000.
it takes the average Habitat homeowner a little over 17 years to it pay off.
VIDEO: Woman thanks volunteer for Habitat home nearly 40 years later
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